Buterin Dismisses AI-Triggered Bitcoin Crash Prediction
Vitalik Buterin, co-founder of Ethereum, has rejected a prediction by Silicon Valley investor Liron Shapira that artificial intelligence (AI) could trigger a significant drop in Bitcoin's value.
Shapira claimed to have 50% confidence that Bitcoin would lose more than half its value within two years due to AI weakening the network's security guarantees. He cited faster AI potentially creating new attacks against the technology protecting Bitcoin.
However, Buterin disagrees with Shapira's claim, stating that he remains confident in Bitcoin's ability to address security problems without requiring broad social agreement. He noted that developers and mining pools could upgrade their systems if new attacks appeared, making it unlikely for a genuine breakthrough against Bitcoin's hash algorithms or Proof-of-Work (PoW) to occur.
Buterin also revealed that around 90% of his net worth is invested in cryptocurrency, which he believes puts him heavily on the other side of Shapira's argument. He offered to bet with Shapira but believes his existing holdings already make it a done deal for him.